I have searched for a startup cofounder more than once. I created this guide from the rules of thumb and information sources that helped me personally.
When I decided to publish my blog, I knew that alongside my personal experiences and the stories I write as the mood strikes, I would also share useful resources to help founders.
My experience with entrepreneurship, from high school onward, taught me that one of the most important factors in a venture’s success—even before a good idea or a good solution to a need—is finding the right cofounder.
When a founder decides to enter a partnership or sign a founders’ agreement to establish a company, they do not always fully appreciate that this relationship is rather like a marriage.
Many investors also look at the team first, deciding whether to invest partly on the basis of the relationship between the partners.
The founders’ ability to overcome difficulties—and there will be difficulties—and make rapid business changes is critical to a young company.
Sharing the burden and knowing that someone else in the boat cares as much as you do about your new business can also help you sleep better at night.
Finding a cofounder may be the most important part of your business and personal journey
For these reasons and many others, finding partners is a cornerstone and a solid foundation for a successful startup.
That made it clear to me that I needed to create a tool or methodology to help me, and many others, find a good partner efficiently.
Drawing on my experience with cofounder matchmaking and dating, as well as extensive methodological research, I believe the tool I created can improve your chances of finding a good partner for your next venture.
The following link takes you to the questionnaire I created: “Test Your Cofounder: A Good Match?”
It has five sections in a simple Google Form and takes between 10 and 30 minutes to complete.
Why fill it out when assessing a potential cofounder or searching for a startup partner?
A. It provides structure for a complex process and may save you from having to read much more on the subject.
B. It speaks plainly. It is serious, but also sarcastic and funny.
C. When you finish, you receive a score for your answers and can see potential problems with the match and which questions still need answers before you can make a better decision.
D. It is designed to improve your chances of finding a better match.
E. I planned to share an anonymized summary of responses so you could compare your match with the average.
Complete the questionnaire, review the results, and pay attention to the incorrect and unusual answers, and you can more easily understand the advantages of a good partner and the disadvantages of a poor one.
Broadly speaking, the outcomes of a match can be described as follows:
- A good partner:
Creates synergy, more than doubling what you can accomplish together; broadens the business’s capabilities; offers different perspectives; increases and sustains motivation; helps evaluate ideas; brings connections; keeps things in proportion; and gives you a reason to get out of bed or laugh.
- A bad partner:
Undermines your work ethic; leaves tasks unfinished or stuck; cannot make decisions or blocks agreed decisions; disagrees about sharing profits and revenue while continuing to create expenses; damages relationships with third parties; avoids responsibility; acts without sufficient thought; risks the business’s reputation; and makes you cry.
Do you know a startup that survived the founding team breaking up?
Breakups within the founding team and problems between cofounders are major reasons young ventures fail or dissolve.
In my first startup , I was part of a founding team that was not a good fit. A combination of family relationships, inexperience, and limited resources eventually caused us to stop working together.
That experience made it clear to me that choosing the partner or cofounders with whom you want to build a long-term, productive relationship is the most important decision in a venture’s early days.
Work at it, or be patient. Either way, waiting can be worthwhile
Not everyone finds suitable partners easily. Many founders spend months, or even years, looking for the right business partner.
There are many ways to find potential partners, alongside established legal mechanisms that can help when a partnership proves unsuitable and must end. If you are searching for a cofounder, consider the following avenues:
- Industry events, including meetups dedicated to cofounder matchmaking, speed dating, hackathons, and similar gatherings;
- Dedicated Facebook groups, such as https://www.facebook.com/groups/Lec4int/ , https://www.facebook.com/groups/417481545057793/ , https://www.facebook.com/groups/162429570765406/?ref=browser , https://www.facebook.com/groups/pairup.startup/?ref=browser , https://www.facebook.com/groups/323958957681804/?ref=br_rs and others;
- Specialist websites, such as http://www.founders-nation.com/ , http://techcofounder.com/ , https://cofounderslab.com/ , http://founderdating.com/ and others.
More resources for finding a startup cofounder
If you would like to read more about finding a startup cofounder or business partner, explore the following resources:
- So Where Do You Find a Startup Cofounder? An article by Yinon Glazer with useful advice and an engaging writing style.
- Six Tips to Help You Find a Startup Cofounder An article with excellent tips by Idan Meir of Hubanana.
- Looking for love in all the wrong places – How to find a Co-Founder – A great interview of Steve Blank (CEO of Rocket Science) who founded 16 startups
- Choosing a minimally viable Co-Founder – great historical post by Dharmesh Shah
Business is done with people. Startups are built with partners
My decision to research and write about finding cofounders did not appear out of nowhere. It grew from different parts of my life, and I am glad I managed to create a simple tool that produces thoughtful results and can help the broader ecosystem.
For most open-ended questions, I included an “Other” option. I would love you to add answers I may not have considered.
If I have forgotten something, or you think I have approached an issue incorrectly, please leave a comment or contact me through the website.
I hope as many founders as possible use this free tool. I would be happy to share the lessons I learn from their responses with the wider ecosystem.
I invite you to find your next cofounder and explore how well you fit. May you build a relationship that creates not just a company, but also a friendship.